Principal Asset Sale definition

Principal Asset Sale means an Asset Sale consisting of a sale (i) by the Issuer of Equity Interests of any of the GTN Entities or IPP Entities or (ii) by a Restricted Subsidiary of the Issuer of Equity Interests or assets of any of the GTN Entities or IPP Entities.

Examples of Principal Asset Sale in a sentence

  • During the period ending on the first anniversary of the date of this Indenture, the Issuer shall deliver, or cause to be delivered, within 30 days after its receipt thereof from time to time, Net Proceeds of any Asset Sale that is not a Principal Asset Sale to the disbursing agent of the Issuer pursuant to the Plan, for distribution to Class 3 claimants in accordance with the provisions of the Plan.

  • The foregoing provisions of this Article 5 shall not apply to any Principal Asset Sale or Principal Asset Sales.

  • The Issuer shall use commercially reasonably efforts to direct the seller pursuant to each Principal Asset Sale to transfer or cause to be transferred the Net Proceeds of such Principal Asset Sale to the Issuer.

  • The Banks and the Bank Agent acknowledge and agree that upon a Principal Asset Sale any Liens of the Banks on any assets or equity interests being sold in such Principal Asset Sale shall be released, provided that Net Proceeds of such Principal Asset Sale are applied to the Bank Credit Facility Obligations in accordance with the provisions of Section 3.09 of the Indentures.

  • Notwithstanding the foregoing, the Issuer shall not be required to redeem Notes pursuant to this paragraph 8 out of Net Proceeds of any Principal Asset Sale (except following the final distribution of such Net Proceeds) that are received subsequent to the initial receipt of Net Proceeds from such Asset Sale unless such subsequently received Net Proceeds, together with all other Net Proceeds not theretofore applied pursuant to this paragraph 8, exceed $1,000,000.

  • The Notes are subject to mandatory redemption by the Issuer within 30 days after the receipt by the Issuer of Net Proceeds from any Principal Asset Sale, after application of such Net Proceeds first to fund Cash On Hand (as defined in the Plan) plus $10,000,000 as provided in the Plan and then to the payment of any amount then required to be paid pursuant to any New Credit Facility (but without being required hereby to effect a permanent reduction of the Commitment under such facility).

  • Notwithstanding the foregoing, the Issuer shall not be required to redeem Notes pursuant to this paragraph 8 out of Net Proceeds of any Principal Asset Sale that are received subsequent to the initial receipt of Net Proceeds from such Asset Sale unless such subsequently received Net Proceeds, together with all other Net Proceeds not theretofore applied pursuant to this paragraph 8, exceed $1,000,000.

Related to Principal Asset Sale

  • Principal Proceeds means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including unapplied proceeds of the Advances and any amounts received by the Borrower as equity contributions (howsoever designated).

  • Collateral Disposition means (i) the sale, lease, transfer or other disposition of the Vessel by the Borrower to any Person (it being understood that a Permitted Chartering Arrangement is not a Collateral Disposition) or the sale of 100% of the Capital Stock of the Borrower or (ii) any Event of Loss of the Vessel.

  • Prepayment Asset Sale means any Disposition by the Borrower or its Restricted Subsidiaries made pursuant to Section 6.07(h).

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Asset Sale Proceeds means, with respect to any Asset Sale,

  • Major Asset Disposition means the sale or other disposition in one transaction or a series of related transactions of 50% or more of the assets of the Company and its subsidiaries on a consolidated basis; and any specified percentage or portion of the assets of the Company shall be based on fair market value, as determined by a majority of the members of the Incumbent Board;

  • REO Disposition The final sale by the Servicer of any REO Property.

  • Equity Issuance Proceeds means, with respect to any Equity Issuance, all cash and cash equivalent investments received by any Restricted Entity from such Equity Issuance (other than from any other Credit Party) after payment of, or provision for, all underwriter fees and expenses, SEC and blue sky fees, printing costs, fees and expenses of accountants, lawyers and other professional advisors, brokerage commissions and other out-of-pocket fees and expenses actually incurred by any Restricted Entity in connection with such Equity Issuance.

  • Permitted Asset Disposition means (i) any Asset Disposition permitted by Section 8.5 and (ii) any Excluded Asset Disposition.

  • Asset Sale means any direct or indirect sale, issuance, conveyance, assignment, transfer, lease (other than operating leases entered into in the ordinary course of business) or other disposition (including pursuant to any Sale and Lease-Back Transaction), other than to the Company or any of its Restricted Subsidiaries, in any single transaction or series of related transactions of:

  • Permitted Asset Dispositions means the following Asset Dispositions:

  • Asset Disposition means any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) by the Company or any Restricted Subsidiary, including any disposition by means of a merger, consolidation or similar transaction (each referred to for the purposes of this definition as a "disposition"), of:

  • Permitted Asset Swap means the concurrent purchase and sale or exchange of assets used or useful in a Similar Business or a combination of such assets and cash, Cash Equivalents between the Company or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received in excess of the value of any cash or Cash Equivalents sold or exchanged must be applied in accordance with Section 3.5 hereof.

  • Excluded Asset Disposition means, with respect to any Consolidated Party, any Asset Disposition consisting of (i) the sale, lease, license, transfer or other disposition of inventory or other assets in the ordinary course of such Consolidated Party's business, (ii) the sale, lease, license, transfer or other disposition of Property no longer used or useful in the conduct of such Consolidated Party's business, (iii) any Involuntary Disposition by such Consolidated Party, (iv) any sale, lease, license, transfer or other disposition of Property by such Consolidated Party to any Credit Party, PROVIDED that the Credit Parties shall cause to be executed and delivered such documents, instruments and certificates as the Agent may reasonably request so as to cause the Credit Parties to be in compliance with the terms of Section 7.12 after giving effect to such transaction, (v) any portion of an Asset Disposition by such Consolidated Party constituting a Permitted Investment, (vi) if such Consolidated Party is not a Credit Party, any sale, lease, license, transfer or other disposition of Property by such Consolidated Party to any Consolidated Party that is not a Credit Party, (vii) the sale or disposition of Cash Equivalents for fair market value, (viii) any sale of accounts receivable in connection with the compromise thereof, (ix) the assignment of past due accounts for collection or (x) the licensing of Intellectual Property to third Persons on customary terms as determined by the licensor's board of directors in good faith; PROVIDED, HOWEVER, that the term "Excluded Asset Disposition" shall not include any Asset Disposition to the extent of the portion of the proceeds of such Asset Disposition that would be required under any Junior Financing Documentation to be applied to permanently retire Indebtedness of the Consolidated Parties.

  • Specified Asset Sale has the meaning specified in Section 2.05(b)(vi).

  • from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other noncash form), in each case net of:

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding only the proceeds of any sale or disposition of any Notes Collateral.

  • Principal Funding Investment Proceeds means, with respect to each Transfer Date, the investment earnings on funds in the Principal Funding Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to but excluding such Transfer Date.

  • Principal Payments means all payments of principal made pursuant to the terms of the Note.

  • Disposition Date shall have the meaning ascribed thereto in Subsection 5.1(d);

  • Qualified Securitization Facility means any Securitization Facility (1) constituting a securitization financing facility that meets the following conditions: (a) the Board of Directors will have determined in good faith that such Securitization Facility (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Borrower and the applicable Restricted Subsidiary or Securitization Subsidiary and (b) all sales or contributions of Securitization Assets and related assets to the applicable Person or Securitization Subsidiary are made at fair market value (as determined in good faith by the Borrower) or (2) constituting a receivables financing facility.

  • Permitted Asset Sale means any Asset Sale that is permitted under Section 6.8.

  • Principal Accumulation Investment Proceeds means, with respect to each Transfer Date, the investment earnings on funds in the Principal Accumulation Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to but excluding such Transfer Date.

  • REO Disposition Period As defined in Section 3.14. REO Proceeds: Proceeds, net of any related expenses of the Servicer, received in respect of any REO Property (including, without limitation, proceeds from the rental of the related Mortgaged Property) which are received prior to the final liquidation of such Mortgaged Property.

  • Disposal Proceeds means the consideration receivable by any member of the Group (including any amount receivable in repayment of intercompany debt) for any Disposal made by any member of the Group except for Excluded Disposal Proceeds and after deducting:

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of